Parker-Hannifin Corporation (PH) Price Target Raised to $200.00
Parker-Hannifin Corporation (NYSE:PH) had its price target lifted by Deutsche Bank AG to $200.00 in a research note released on Monday. They currently have a buy rating on the industrial products company’s stock.
PH has been the topic of several other research reports. BidaskClub lowered shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a research note on Monday, July 24th. Stifel Nicolaus set a $198.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a buy rating in a research note on Friday, August 4th. Robert W. Baird set a $163.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a hold rating in a research note on Thursday, August 24th. Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a research note on Tuesday, August 8th. Finally, KeyCorp reissued a buy rating and set a $200.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $188.95.
Shares of Parker-Hannifin Corporation (PH) opened at $184.61 on Monday. Parker-Hannifin Corporation has a 1 year low of $134.03 and a 1 year high of $189.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. The company has a market cap of $24,594.87, a P/E ratio of 21.19, a PEG ratio of 1.66 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.02 by $0.22. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the company earned $1.61 EPS. Parker-Hannifin Corporation’s revenue was up 22.7% on a year-over-year basis. research analysts expect that Parker-Hannifin Corporation will post 9.57 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is currently 33.93%.
In other Parker-Hannifin Corporation news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total value of $65,565.60. Following the transaction, the vice president now owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,828 shares of company stock worth $4,611,814. Insiders own 1.12% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC raised its holdings in shares of Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares during the last quarter. Israel Discount Bank of New York raised its holdings in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of Parker-Hannifin Corporation in the second quarter valued at approximately $124,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Parker-Hannifin Corporation in the third quarter valued at approximately $168,000. Institutional investors own 78.35% of the company’s stock.
Parker-Hannifin Corporation Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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